Phthalic Anhydride Market projected to grow at a 4.25% CAGR to reach nearly US$3 billion by 2030

Phthalic anhydride market valued at US$2.344 billion in 2025 is projected to develop at a considerable pace of 4.25% CAGR to reach US$2.886 billion by 2030.

NEW YORK, NY, UNITED STATES, January 22, 2025 /EINPresswire.com/ -- A new analysis report on the global phthalic anhydride market, which is forecasted between 2025 and 2030, has been published by Knowledge Sourcing Intelligence.

Phthalic Anhydride is a significant chemical intermediate in the production of major chemicals such as phthalate Plasticize, copper Phthalocyanine (CPC), di-ethyl Phthalate (DEP), unsaturated Polyester Resin (UPR), and others. Phthalic anhydride is utilized in the production of various industries, such as pharmaceuticals, leather, paper, dyes, and saccharine among others.
The growth of electronic devices is attributed to multiple factors, such as rising internet use, digital media usage, increasing cloud computing activities, and demand for artificial intelligence devices. In 2022, the U.S. imported US$629,871 million worth of electronic devices, a significant rise from the previous year, according to the United States International Trade Commission. The expansion of electronics leads to the demand for phthalic anhydride for the manufacturing of electronic devices.

According to the OICA (International Organization of Motor Vehicle Manufacturers), the overall production of vehicles has expanded by 10% in 2023 compared to the previous year. This number of vehicles produced was 93,546,599, of which 67,133,570 are cars, and 26,413,029 are commercial vehicles. These increases are from the major economies of India, China, Canada, Germany, France, etc. The rise in the production of vehicles leads to the demand for phthalic anhydride in plasticizers and coatings usage in the automotive industry. The coatings are necessary for protecting the car's surface from heat and moisture.

View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/phthalic-anhydride-market

Based on type, the phthalic anhydride market is divided into plasticizers, alkyd resins, unsaturated polyester resins, and others. Plasticizers are anticipated to be the largest category, mainly for PVC for flexibility and processability. Alkyd resins represent other key areas, used for coatings and paints, while unsaturated polyester resins find important applications in fiberglass-reinforced plastics. The increased diversification of applications includes areas like dyes, pigments, and flame retardants within the others category.
Based on the end-user industry, the phthalic anhydride market is bifurcated into automotive, electrical, and electronics, paints and coatings, plastics, and others. The automotive industry uses phthalic anhydride in plastics for car parts and paints. The electrical and electronics sector uses it in insulation and circuit boards. Paints and coatings rely on it for alkyd resins. The plastics industry uses it in plasticizers and polyester resins. Other industries like construction and marine also use phthalic anhydride derivatives.

Geographically, the Asia Pacific region is expected to grow significantly in the phthalic anhydride market due to its increasing consumer electronics and automotive applications. Indian passenger car market is expected to reach a value of US$54.84 billion by 2027 while registering a CAGR of over 9% between 2022-27. In FY24, the total production of passenger vehicles, commercial vehicles, three-wheelers, two-wheelers, and quadricycles was 2,84,34,742 units.
As a part of the report, the major players operating in the global phthalic anhydride market that have been covered are BASF SE, Exxon Mobil Corporation, and Merck KGaA among others.

The report segments the global phthalic anhydride market on the following basis:

• By Application
o Plasticizers
o Alkyd Resins
o Unsaturated Polyester Resins
o Others

• By End-use Industry
o Automotive
o Electrical And Electronics
o Paints And Coatings
o Plastics
o Others

• By Geography
• North America
o USA
o Canada
o Mexico
• South America
o Brazil
o Argentina
o Others
• Europe
o United Kingdom
o Germany
o France
o Italy
o Spain
o Others
• Middle East and Africa
o Saudi Arabia
o UAE
o Israel
o Others
• Asia Pacific
o China
o India
o Japan
o South Korea
o Taiwan
o Thailand
o Indonesia
o Others

• Companies Profiled
o BASF SE
o Dow
o Wacker Chemie AG
o Evonik Industries AG
o Momentive Performance Materials
o Shin-Etsu Chemical Co., Ltd.
o 3M Company
o Arkema
o Advanced Polymer
o JNC Corporation
o Gelest Inc. (Mitsubishi Chemical Group)
o ChemPoint

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